Tobam Sells 1,719 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tobam trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 22.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,091 shares of the network equipment provider’s stock after selling 1,719 shares during the quarter. Tobam’s holdings in Cisco Systems were worth $361,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC increased its stake in shares of Cisco Systems by 1.3% in the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC boosted its position in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CSCO. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Price Performance

Shares of CSCO opened at $62.27 on Friday. The firm has a fifty day simple moving average of $59.65 and a two-hundred day simple moving average of $54.87. The firm has a market cap of $248.01 billion, a PE ratio of 26.73, a P/E/G ratio of 4.51 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 353,522 shares of company stock worth $20,349,721 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.